Companies like Braidy Industries, a manufacturer of high-tech rolled aluminum, believe in taking care of their workforce. When employees are happy, they are more likely to be productive. Everything works more smoothly, from manufacturing processes to the front office and distribution center.
Happy and engaged employees have a measurable impact on stock prices and productivity. Among the “100 Best Companies to Work For” tracked by Fortune, company stocks rose 14 percent per year ending in 2005. This compares to a 6 percent rise in the market as a whole.
Here are ten steps that any company, regardless of their industry, can take to ensure that their employees are satisfied.
1. Give Employees a Sense of Ownership
When employees feel that they are essential to the company’s mission, they are more likely to be happy in their jobs. Praise them for contributing to the company’s success. Give them input on important decisions like choices of health insurance companies. This will ensure that everyone feels like they are part of the process.
2. Give Opportunities for Advancement
Make sure that your star employees have ways to move up in the company. If they find that they have hit a ceiling beyond which they are not likely to be promoted, they may look elsewhere for work. Giving people the sense that they have a strong future in the company builds loyalty and means you will have more satisfied employees.
Every employee should know exactly what is expected of them to be successful in their jobs. Be sure that job responsibilities and chains of command are clearly delineated. When people are constantly bombarded with work from all directions, they quickly become overwhelmed and frustrated. Having clear communication between staff and supervisors helps to cut down on this problem.
4. Ask for Feedback
Employees may not feel like they can offer anything to the company dialogue. Make sure that they have opportunities to evaluate how managers are performing their jobs. Performance evaluations for employees are common, but it is worth creating a system to review supervisors as well. Make these surveys anonymous and use the cooperation of your human resources department to make this work.
5. Respect Your Employees
Always treat staff members like adults. Don’t treat them like misbehaving children, even when they have made mistakes. Instead, rationally go over what went wrong and how it can be fixed in the future. Respect employees’ intelligence and take their considerations under concern.
6. Give Rewards
Bonuses are a nice way to reward employees who have performed above and beyond their job responsibilities, but they are not the only way to motivate people. Awards like Employee of the Month are a good way to let employees know that companies care about them. Perhaps non-financial perks like a dedicated parking space could be offered.
7. Offer Mentorship
When an employee needs help, offer them mentorship. Meeting with them to discuss their overall career goals can help both the employee and the supervisor. The employee will feel like management cares, and the manager will ensure that the employee remains loyal to the company.
8. Set Goals Together
Let the employees help management set goals. Employees are aware of the mission of the company, and if they are not, they should be. Helping management set goals gives employees a stake in the fortunes of the business.
9. Encourage Work-Life Balance
Employees are happiest when they can achieve work-life balance. Overly stressed employees may look for other work, meaning that a company will lose their investment in training and fostering this person’s career. Allow people to set flexible hours as long as all of their work responsibilities are completed and if they attend all scheduled meetings. This change may have an outsized impact on employee productivity.
10. Always Be Honest
Don’t try to deceive employees or hide things from them. Eventually, the employees will find out, and managers will be hard pressed to contain the damage. This may mean letting negative news out before managers are ready. Make sure that a robust plan is in place.
These ten steps can help any company increase productivity and worker retention. Braidy Industries, among other modern manufacturing firms, is a leader in building positive relationships between employees and managers. When employers follow these ten recommendations, they will find that their companies run more smoothly.